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Live Nation selling Chicago theaters
posted by
HowardBHaas
on
November 13, 2007 at 3:45 pm
CHICAGO, IL — Live Nation is selling its interest in historic Chicago theaters including the Palace and the Oriental, for $60 million dollars to Nederlander.
In a statement that accompanied the filing of its third-quarter results, the entertainment company Live Nation said Thursday that it entered into a definitive agreement with entities wholly owned by Nederlander to sell its interest in Broadway in Chicago — and associated ownership of the Oriental — for $60 million.
Broadway in Chicago, which presents Broadway shows like “Jersey Boys” and “Wicked” in Chicago, had been operating as a 50-50 partnership between the Nederlander Organization and Live Nation (once part of Clear Channel Entertainment). However, the ownership of the Loop theaters controlled by the entity remained separate.
You can read the full story in the Chicago Tribune.
Comments (1)
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